For the average millennial or at least anyone that pays attention to the business world, the term “cryptocurrency” would not seem like such a strange word. If that is, then the terms Bitcoin, Ethereum or at least Blockchain should ring a bell. One might wonder, why are these terms suddenly so prevalent, especially cryptocurrency news? Computing is getting rather pervasive and the society is leaning towards digital services. The finance world too isn’t spared as the disruption of technology into this sector has fostered the birth and development of Fintech organizations.
These Fintech organizations look to digitize payments and transactions, offering the same services that are currently in existence but in a better, efficient and more effective way.
Blockchain is the network upon which most of these cryptocurrencies operate on. The history of blockchain and bitcoin, in particular, does not have a definite story. In 2009, an individual or group of individuals known to be “Satoshi Nakomoto” developed and published the technology to allow people make digital payments between themselves anonymously without having an external party to verify or authorize the transfer of the currency being exchanged.
Although technologies like this might seem rather complex, understanding how Blockchain works is quite easy, given that one has a basic idea of how networks work. Blockchain is simply a database shared between several users, containing confirmed and secured entries. It is a network, where each entry has a connection to its previous entry.
This technology affords a very secure model whereby every record in the database cannot be tampered with. Apart from the stellar security that this network offers, the transparency and speed at which the network operates give it an edge over the conventional way of conducting transactions.
In simple terms, cryptocurrencies are just monies in digital form, transacted via digital means and over a digital network. The transfer of these currencies is utilized with cryptography and the aforementioned blockchain network. Up until the 2010s, cryptocurrencies were not really known until Bitcoin made its breakout and this gave rise to the birth of new cryptocurrencies.
Cryptocurrencies have had their fair share of bullish and bearish trends, going to show how unstable they can be. The latest cryptocurrency news reports lots of people predicting prices for various cryptocurrencies in the years to come but no-one can say for sure.
Blockchain, on the other hand, is making its way into pervasive computing, especially IoT, giving way for the development of new solutions that embrace data security and transparency.
Provisions that allowed people in Argentina to declare undeclared crypto assets for tax reasons is no longer part of the reform bill.
Sui has been among the top performers in the cryptocurrency market as of late, fueled by a notable spike in its on-chain DeFi activity and rising trading volume.
Contradicting statements made by Wen have led the leading prosecutor Gillian Jones to believe that there may be more than she is letting on.
Binance is reportedly not planning to expand its footprint in South Korea amid growing regulatory scrutiny and is willing to sell its stake in Gopax.
By introducing blob transactions, proto-danksharding enables more efficient data storage. This subsequently lowers the overall costs for users when submitting transactions on Ethereum.
Moving beyond the realm of speculation, Draper envisions a future where the crypto asset transcends its current status as a store of value.
Binance also announced the addition of JUP as a borrowable asset in a new margin pair on the Isolated Margin.
The suspects voluntarily transferred the Bitcoins to the wallets controlled by German authorities. German law enforcement hasn’t cleared as to what they would be doing with these Bitcoins.
According to Standard Chartered, an ETH ETF approval will come from the SEC in May, and could possibly pump ETH price to $4,000.
Although there is no specific date, the ZetaChain mainnet is set to launch in a few days, to integrate multiple networks on one platform.
Users can swap the digital assets directly from their self-custodial wallets, such as MetaMask, onto their Visa debit cards.
As per the SEC, Chunga individually accumulated approximately $3.7 million from investors’ funds, spending it on personal luxuries like a BMW, designer clothing, and a $1.2 million residence in Maryland.
Eligible Binance customers can now use independent custodians to keep their assets instead of holding them on the Binance exchange.
Decentraland’s priority strategy for 2024 is to float a new powerful Desktop Client.
NEURALINK joins the ranks of crypto tokens experiencing substantial gains following pivotal announcements.